Global confidence in a digital world

We live in a connected world. Digital transactions travel the world and know no borders.

If we  look at the acquisition of goods and services through the Internet, according to the quarterly data published by the National Commission of Markets and Competition (CNMC), electronic commerce in Spain exceeded 12,200 million euros in 1Q 2020, 11.6% more than the previous year, a consolidated upward trend from year to year.

It is quite revealing to analyse the origin and destination of these transactions. 50.8% of revenues in 1Q 2020 correspond to sales- originating in Spain made from e-commerce websites abroad. The bulk of the transactions are carried out within the European Union, which represents 95.9% of the income from transactions from Spain to abroad and 66.6% in the opposite direction. The volume of income from transactions carried out from abroad to Spain 2,255 million euros of which 753 million originate outside the European Union.

According to data from the World Trade Organization (WTO), imports and exports from Spain have seen their turnover fall in the first quarter of 2020 compared to the same quarter of 2019.  It is a fact that it is noted both if the figure is considered in the currency in which the WTO publishes the data (dollars) and if the adjustments are made for currency exchange variations and it is expressed in euros. However, the e-commerce numbers have grown. Although the intra annual variations since 2014 do not mark a stable trend, on average, electronic commerce grows in percentage terms more than total commerce.

These data allow us to verify a fact that we are all  experiencing on a daily basis: the world is increasingly digital, online transactions are gaining ground over physical interactions and this is measurable in terms of business volume.

Digitization facilitates exchanges and communications between geographically distant markets, generating new customers, suppliers, and competitors to come into play. In this changing board it is important to identify the key value  to occupy and maintain a leadership position.

REGULATION (EU) No. 910/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of July 23, 2014 known as the eIDAS regulation sets out the following in its first recital:

“Creating a climate of trust in the online environment is essential for economic and social development. Mistrust, in particular due to perceived legal uncertainty, makes consumers, companies and public administrations hesitate when making transactions electronically and adopting new services.”

This vision is shared in other parts of the world, thus, for example, Law No. 126-02 on Electronic Commerce, Documents and Digital Signatures of the Dominican Republic includes the following RECITAL: “That the authentication and security of digital documents and messages are essential to ensure to the parties involved that their electronic commerce transactions are carried out in an environment free from illegal attacks or infractions, or that, if these occur by exception, those transactions meet the conditions necessary to be able to settle conflicts, assign responsibilities and repair damages as the case may be.” shares this view and  considers that its roles  consist of providing companies, public administrations and private users with secure, trustworthy, efficient, and profitable electronic communications that will directly help to improve their results.

To achieve our mission, we work to accredit ourselves to the competent administrative authorities and audit our services to become a leader in the provision of trust services worldwide. Currently, we have the following accreditations:

  • Our eKYC system, as I posted on my previous post, has the certificate of conformity that certifies it as an identification system that can be used by Certification Authorities for the issuance of certificates in accordance with the European eIDAS regulations. It is also in conformity  with the authorization for video identification of SEPBLAC (Executive Service of the Commission for Monitoring Exchange Control Offences).
  • Our advanced electronic signature system is also in compliance with the eIDAS regulations
  • We are part of the Trusted List of Trusted Electronic Service Providers (TSL) corresponding to providers that provide qualified electronic trust services and are established and supervised in Spain for the provision of the qualified Registered email service.
  • In the Dominican Republic we operate as a certification entity nationwide thanks to the accreditation obtained before INDOTEL
  • In Peru, we are accredited by INDECOPI as a provider of added value services for its digital intermediation systems Tools, eKYC and Click and Sign. In addition, we have also accredited our digital signature software.

Our commitment is to continue accrediting our services in those countries where we are  to continue generating trust both for doing business locally and for digital transactions in a global environment.

Leave a Comment